Cramer needs to call a viewer and apologize for linking The Buckle, (BKE), and saying it is a buy, buy, buy. This is the problem with anything that has to do with stock recommendations and is called the “lightning round.” Basically, you cannot make an informed decision about a stock when you rush through a segment and spend, what, 15 seconds with a caller? This poor lady probably went all in and now is suffering a 14% loss, nice job.
Here is their same store sales:
One good example of what is going on with teen retailers is The Buckle, which had posted double-digit same-store sales gains for 22 consecutive months. That streak was broken in June, and continues in July. The company said Thursday its same-store sales rose 2.8 percent in July, which is a solid increase compared with other retailers that have reported so far. However, analysts surveyed by Thomson Reuters were expected the company to report a 10 percent increase in monthly same-store sales.
So much for blowing out the monthly numbers.
Here is what Cramer said: “Buckle: Cramer is bullish on Buckle, calling it “a superior retailer.””
I realize he switched over to entertainment, but this is a bit ridiculous. I actually have a lot of respect for Cramer the hedge fund manager, but as a TV pundit, he is not so good. He has had some good picks, but my point is that the whole lightning round thing is not good for investors as they will buy or sell on his recommendation. Either he needs to prescreen callers or discontinue that segment.